rajsh
29 July 2012 at 13:01
we have recently sold our inherited agricultural land situated in maharashtra for a lesser consideration amount as it was encroached with illegal tenants and trespasser. Me and my mother got the share of my late father. Now be both are planning to buy a flat jointly with the amount receive. however the amount received is not sufficient so I am going for a loan for the additional amount required to purchase the flat.
Please let me know can we both invest in the same property to avoid capital gain tax if applicable?
we have also received a letter / certificate from the talathi in marathi which states that : MARATHI- "SADAR JAMINI HYA MAHANAGAR PALIKA HADDI PASUN SUMARE 8 KM ANTRAVAR AAHET.
Is this wording correct?
Also as per the census avilable on net the population of the said village is aroung 4000 only.
Pls guide me in this matter.
thanks
Niranjan Kumar
28 July 2012 at 17:27
Hi Experts,
Please let me about as given below.
Is haryana vat levy on rewinding motor and in which section it will come?
Niranjan Kumar
kumar
28 July 2012 at 16:27
sir if i invest capital gain amount in any new residential property then how to calculate invested amount.
registered amount of purchase 900000
+ stamp duty 50000
+commission to dealer 40000
+ other travelling exp etc.2000
please guide me.
kumar
28 July 2012 at 16:23
sir
i have earn appx 6lakh capital gain in 2011 by sell of a residential flat in delhi. and i have one more house in delhi on which only ground floor is constructed in 2007. now i have construct first floor in that house by spending appx 6.5 lakh. construction is 99% complete in 2012 may. now i want to get exemption in my capital gain against this construction.
but the promblem is that i donot have any valid bill for purchase of material and labour charges paid to labour. then how i will proof this cost 6.5 lakh.
please advise me.
kumar
28 July 2012 at 16:09
sir
i purchase a flat in delhi in 93-94. i got possession and after that i paid all due installment with penalty appox 60000 but achul registery of general power of attorney made in 2000-01 of rs 50000. other expeses was 5000 as commision and rs 1000other.
now i have sell this flat in 2011 for registered at 10 lac with 32000 commission.
please help me how to compute capital gain.
reason for late registery is that property was disputed but no legal case on it.
subhash bajpai
28 July 2012 at 14:39
I have a Sons beneficiary Trust whose income is more that 2lacs. whether deduction u/s 80C can be claimed in the trust. and which form of return should be filed? pls help
mukesh jain
28 July 2012 at 11:19
Giving cash loan of Rs 2,00,000 to a friend is legal or illegal under income tax act. plz. awnser in detail with income tax section and penalty or imprisonment.
nitin jain
28 July 2012 at 10:57
Notification No. 50/2003-C.E., dated 10th June, 2003. The said paragraph 2 reads as under :
"2. The exemption contained in this notification shall apply only to the following kinds of units, namely :-
(a) new industrial units which have commenced their commercial production on or after the 7th day of January, 2003;
(b) industrial units existing before the 7th day of January, 2003, but which have undertaken substantial expansion by way of increase in installed capacity by not less than twenty five per cent, on or after the 7th day of January, 2003."
In the above notification i want to know that if we are existing unit befor 7 jan 2003 and our production is 10 MT per month.We have some plant and machinery in our store before 7 jan 2003.we also make purchase of some additional plant and machinery from market till 10 jan 2003.and install the same from period 7 jan 2003 to 15 jan 2003.and our commercial production start from 16 jan 2003 which is more than 25 percent as desired in the notification.In this situation we are entitle to take excise exemption benefit or not?plxz reply
thanx
anish
27 July 2012 at 23:27
Sir
I already own one residence. Now for trading purpose i want to purchase another residential flat in my personal name.Can i show this another flat as stock in trade so that i do not have to incur wealth tax liability? if so how do i convert this flat as stock in trade which i will purchase in my individual capacity?
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